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Iraq seeks `complete agreement' on oil production freeze Iran ridiculed

ABU DHABI (Bloomberg) -- The success of a proposal for the worlds biggest producers to freeze crude output hinges on unified support, Iraqs oil minister said, a day after fellow OPEC member Iran called the plan ridiculous. If some people fr......【More】

2016-02-25

Saudi Arabia to U.S. oilmen: Cut costs or get out of business

HOUSTON (Bloomberg) -- The worlds most powerful oilman brought a harsh message to Houston for executives hoping for a rescue from low prices: high-cost producersmany of them sitting in the roomneed to either lower costs, borrow cash or liqu......【More】

2016-02-24

OPEC doesn’t know how it can ‘live together’ with shale oil

HOUSTON (Bloomberg) -- OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price war against it, OPEC has now concluded it doesnt know how to coexist with the U.......【More】

2016-02-23

Oil pares gain after U.S. crude inventories rise to 86-year high

NEW YORK (Bloomberg) -- Oil pared gains after a government report showed U.S. crude inventories advanced to an 86-year high as imports surged. Crude stockpiles rose 2.15 MMbbl to 504.1 MMbbl last week, according to the Energy Information Ad......【More】

2016-02-19

Iran backs oil producer freeze without pledging supply curbs

TEHRAN, Iran (Bloomberg) -- Iran supported an accord by Saudi Arabia and Russia to steady global oil markets by capping their supply, without saying whether it would curb its own production. Iran backs any measures to stabilize global oil m......【More】

2016-02-18

The glaring problem with oil giants' production freeze

NEW YORK (Bloomberg) -- Oil traders arent too impressed with Saudi Arabia and Russias accord to cap oil production at near-record levels. After rising above $31.50/bbl when news of this agreement was reached, front-month West Texas Intermed......【More】

2016-02-17

Saudi, Russian oil ministers said to plan talks in Doha Tuesday

DOHA, Qatar (Bloomberg) -- Saudi Arabias oil minister will meet with his Russian counterpart in Doha on Tuesday to discuss the oil market, according to a person familiar with the talks. Ali al-Naimi, the most senior oil official of the worl......【More】

2016-02-16

Oil rebounds from lowest close in 12 years to pare weekly loss

NEW YORK (Bloomberg) -- Oil rebounded from the lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and OPEC reiterated its willingness to engage with other producers. Futures rose as m......【More】

2016-02-15

Oil gains after Russia says open to talking with OPEC

LONDON (Reuters) -- Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the worlds largest producers could act to boost pric......【More】

2016-02-04

Oil slips towards $33 as hopes for production cut fade

LONDON (Reuters) -- Oil prices fell around 3% on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for April delivery was down $1.01 at $33.23/b......【More】

2016-02-03